News coverage about ORBCOMM (NASDAQ:ORBC) has been trending somewhat negative recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. ORBCOMM earned a news sentiment score of -0.04 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 45.7140789070592 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- Global Mobile Satellite Services Industry is Anticipated to Reach USD 5.53 Billion by 2024 (planet.infowars.com)
- Research details developments in the satellite modem market (whatech.com)
- ORBCOMM (ORBC) vs. China Mobile (Hong Kong) (CHL) Critical Analysis (americanbankingnews.com)
- ORBCOMM Keeps TOTE Maritime Alaska Cool and in Control of Refrigerated and Dry Assets (satnews.com)
- ORBCOMM Inc. (ORBC) Expected to Announce Quarterly Sales of $65.23 Million (americanbankingnews.com)
Shares of ORBCOMM (NASDAQ ORBC) traded down 0.27% during mid-day trading on Wednesday, reaching $11.28. 40,586 shares of the company traded hands. The company’s 50 day moving average is $10.90 and its 200 day moving average is $10.63. The stock’s market capitalization is $829.06 million. ORBCOMM has a 52-week low of $7.15 and a 52-week high of $11.99.
ORBCOMM (NASDAQ:ORBC) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The business had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $52.93 million. During the same quarter last year, the company posted ($0.06) earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that ORBCOMM will post ($0.36) earnings per share for the current year.
Several brokerages have issued reports on ORBC. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 target price on shares of ORBCOMM in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Northland Securities set a $13.00 target price on shares of ORBCOMM and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.25.
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In other news, CEO Marc Eisenberg sold 115,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $11.27, for a total value of $1,296,050.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $11.51, for a total value of $80,570.00. The disclosure for this sale can be found here. Insiders have sold 503,864 shares of company stock worth $5,651,195 over the last quarter. 9.50% of the stock is currently owned by company insiders.
ORBCOMM Company Profile
ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.
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